Mortgage Loan Calculator (PITI)

Use this calculator to generate an estimated amortization schedule for your current mortgage. Quickly see how much interest you could pay and your estimated principal balances. You can even determine the impact of any principal prepayments! Press the "Report" button for a full yearly or monthly amortization schedule.

Based on the information you entered, your payment is MONTHLY_PITI for TERM years with a rate of INTEREST_RATE.

**GRAPH**
Mortgage Summary
Loan amountLOAN_AMOUNT
TermTERM years
Interest rateINTEREST_RATE
Annual home insuranceYEARLY_HOME_INSURANCE
Annual property taxesYEARLY_PROPERTY_TAXES
Monthly payment (PI)MONTHLY_PI
Monthly payment (PITI)*MONTHLY_PITI
Total principal and interest paymentsTOTAL_OF_PAYMENTS
Total interestINTEREST_PAID
*Principal, Interest, Taxes, Insurance

Prepayment Results

Principal prepayments on your mortgage can save you a great deal of interest. They can also shorten the time it takes to pay off your mortgage, in many cases, by several years. PREPAY_MESSAGE
Prepayment Summary
AmountPREPAY_AMOUNT PREPAY_TYPE
Start with paymentPREPAY_STARTS_WITH
Total paymentsPREPAY_TOTAL_OF_PAYMENTS
Total interestPREPAY_INTEREST_PAID
Interest savingsPREPAY_INTEREST_SAVINGS
Mortgage paid off inPREPAY_PAYOFF_PERIODS

Payment schedule

**REPEATING GROUP**

Mortgage Loan Calculator (PITI) Definitions

Mortgage amount
Original or expected balance for your mortgage.
Term in years
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Interest rate
Annual fixed interest rate for this mortgage.
Monthly payment (PI)
Monthly principal and interest payment (PI).
Monthly payment (PITI)
Monthly payment including principal, interest, homeowners insurance and property taxes.
Annual property taxes
The annual amount you expect to pay in property taxes. This amount is divided by 12 to determine the monthly property tax included in PITI.
Annual home insurance
The annual amount you expect to pay in homeowners insurance. This amount is divided by 12 to determine the monthly home owners insurance included in PITI.
Total payments
Total of all monthly payments over the full term of the mortgage. This total payment amount assumes that there are no prepayments of principal.
Total interest
Total of all interest paid over the full term of the mortgage. This total interest amount assumes that there are no prepayments of principal.
Prepayment type
The frequency of prepayment. The options are none, monthly, yearly and one-time payment.
Prepayment amount
Amount that will be prepaid on your mortgage. This amount will be applied to the mortgage principal balance, based on the prepayment type.
Start with payment
This is the payment number that your prepayments will begin with. For a one-time payment, this is the payment number that the single prepayment will be included in. All prepayments of principal are assumed to be received by your lender in time to be included in the following month's interest calculation. If you choose to prepay with a one-time payment for payment number zero, the prepayment is assumed to happen before the first payment of the loan.
Savings
Total amount of interest you will save by prepaying your mortgage.
Report amortization
Choose how the report will display your payment schedule. Annually will summarize payments and balances by year. Monthly will show every payment for the entire term.


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